A PYMNTS Company

US: Hapag-Lloyd says US shipping probe closed

 |  February 27, 2019

Germany’s Hapag-Lloyd is cleared of a US Department of Justice probe into the practices of container shipping companies, with no charges brought, a spokesman stated on Tuesday, February 26.

“Hapag-Lloyd was informed that the US Department of Justice, Antitrust Division is closing its investigation without charges against the company, its affiliates or any other current or former employees,” he said.

This followed similar statements by bigger rivals Maersk and Mediterranean Shipping Company earlier in the day.

The investigation could have resulted in large fines at a time when the container sector is struggling with slowing global economic growth.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.